Securities licensing cost: SIE, Series 7, 63, 65 and 66 fees
Last checked October 16, 2026 · Sources: FINRA qualification exams table, SIE FAQ and Regulatory Notice 26-18; NASAA exams FAQ; Achievable and Kaplan pricing pages
Securities licensing cost depends on which exams you need. FINRA lists the SIE at $100 and the Series 7 at $395, and the NASAA state law exams at $147 (Series 63), $187 (Series 65) and $177 (Series 66). A common SIE, Series 7 and Series 66 path comes to $672 in exam fees, before any prep.
Securities licensing cost by exam
| Exam | Fee | Who usually pays | Sponsorship needed |
|---|---|---|---|
| SIE | $100 | You, if you take it before getting hired | No |
| Series 6 | $100 | Often the sponsoring firm | Yes, a FINRA member firm |
| Series 7 | $395 | Often the sponsoring firm | Yes, a FINRA member firm |
| Series 63 | $147 | Varies | No, per NASAA |
| Series 65 | $187 | Varies | No, per NASAA |
| Series 66 | $177 | Varies | No, per NASAA |
Fees from FINRA’s qualification exams table, which also lists the NASAA exams it administers; checked October 16, 2026.
FINRA administers the NASAA exams, which is why you see them in FINRA’s table and may pay through FINRA’s systems even though NASAA writes them. Some states also charge agent or investment adviser representative registration fees on top of the exam fees; your firm or state will tell you what applies.
What common licensing paths cost
| Path | Exams | Exam fees |
|---|---|---|
| Broker (full-service) | SIE + Series 7 + Series 63 | $642 |
| Broker plus adviser | SIE + Series 7 + Series 66 | $672 |
| Investment adviser representative | Series 65 | $187 |
| Mutual funds and variable products | SIE + Series 6 + Series 63 | $347 |
Exam fees only, our sums of FINRA’s listed fees. Excludes prep, retakes and any state registration fees.
What prep costs
Prep is optional but common. Achievable lists $99 for the SIE and $199 for the Series 7, while Kaplan’s packages run $99 to $229 for the SIE and $139 to $309 for the Series 7, as of October 2026. FINRA’s free SIE practice test costs nothing. Our best SIE and Series 7 prep and cheapest prep pages compare options, with links to buy.
What failing costs
A retake means enrolling again and paying the full fee again. The bigger cost is often time: FINRA currently requires a 30-day wait after a first or second failure and 180 days after a third within two years. Under FINRA Regulatory Notice 26-18, those drop to 15 and 60 days from January 19, 2027. NASAA is cutting its third-failure wait for the Series 63, 65 and 66 to 60 days from January 4, 2027, while keeping 30 days after a first or second failure.
Ways to keep securities licensing costs down
If you're job hunting, a firm that hires you will usually sponsor and often pay for the Series 7, so you may only need to pay for the SIE yourself.
Use FINRA's free SIE practice test and content outlines before buying a course.
Passing first time avoids paying the fee again and waiting to retest.
If you'll be both a broker and an adviser representative, the Series 66 ($177) with the Series 7 can replace taking both the Series 63 and 65 ($334 together).
Common questions about securities licensing cost
Why do I pay FINRA for NASAA exams?
FINRA administers the NASAA exams, so their fees appear in FINRA’s exam table and enrollment systems even though NASAA writes the exams.
What happens if I fail?
You pay the full fee again for the retake, and wait 30 days after a first or second failure (15 days for FINRA exams from January 19, 2027).
How much does the SIE cost?
$100, according to FINRA. Older sites may still show $80.
Does my employer pay for the Series 7?
Often, yes, since you need a sponsoring firm to take it. Ask your firm whether it pays the $395 fee and provides prep.
We first checked these fees on October 12, 2026 and rechecked them on October 16, 2026. MockTestPrep is independent and is not affiliated with FINRA or NASAA.